14 June 2001, 10:03 Japan's Imai: Economy stagnant for a few years unavoidable
Tokyo, June 14 (BridgeNews) - Takashi Imai, chairman of the Keidanren,
Japan's largest business lobby group, said at a meeting with Finance Minister
Masajyuro Shiokawa Thursday that it is inevitable that deflationary pressures
will increase as a result of disposals of bad loans, according to a MOF
official. Imai also said that Japan is ready for an economic stagnant for a few
years due to deflationary pressures from structural reform.
* * *
According to the MOF official, Keidanren's Imai also emphasized that the
business lobby group fully supports Prime Minister Junichiro Koizumi's
willingness to step up structural reform and accelerate disposal of bad
loans.
Imai also emphasized the need for the government to determine a method for
reducing government debts.
Regarding local government fiscal situation, Imai called on MOF's Shiokawa
for considering its reform.
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